Market Overview
The Cod Liver Oil Market is projected to be valued at USD 550.8 million by the end of 2030 with registering a CAGR of 9.1% during the forecast period of 2022-2030. Like some other fish oils on the market, Cod liver oil is a nutritional supplement that is high in omega 3 fatty acids. This also contains a lot of vitamin A and D. Cod liver oil is derived from the liver of codfish plus treated to make it appropriate for human consumption like the name suggests.
Cod liver oil is one of the best sources of healthy fatty acids and vitamins. Because of its vitamin A, omega-3, plus vitamin D content, cod liver oil is becoming increasingly popular worldwide. The need for cod liver oil in the worldwide fish oil market is very high because of its benefits for mental health and cardiovascular disorders. Cod liver oil is used to make nutraceuticals and nutritional supplements in the pharmaceutical and food industries. Cod liver oil is made from the liver of the codfish (Gaddus morhua), which may be found predominantly in the Arctic and Atlantic oceans.
Market Segmentation
The cod liver oil market outlook forecasts that during the forecast period, consumers will become more accepting of the goods and will be interested in replacing standard oils with cod liver oil throughout their daily lives. It's important to understand market segmentation to understand their income potential.
The following factors have been used to segment the market:
Depending on the sort of product available
To fulfil the various requirements of the cod liver oil market, market participants manufacture and sell powders, liquids, gels, and other items such as pills, capsules, and soft chewable.
Depending on the chosen distribution channel
Cod liver oil market participants employ both store-based and non-store-based channels to get their target audience, ensuring a consistent level of product availability for consumers during the projected period.
Regional Classification
The cod liver oil industry projection expects increased rivalry among the many participating areas around the globe. When comparing the competitive areas, the report research forecasts that throughout the forecast period, which ends in 2030, APAC will develop to become the area with the largest market share. The growing population in this area raises consumer awareness of market products with increasing audience reliance on them. Many other variables, such as doctors' prescriptions for such oil and its application in the pharmaceutical and medical industries, contribute to the plethora of opportunities in the APAC region over the forecast period.
Industry News
Because of its high nutritional value, it is used as a therapeutic ingredient in pharmaceutical companies. Many firms include cod liver oil soft gels and capsules in their product portfolios. Because of rising knowledge and health concern, the cod liver oil market share is likely to grow considerably throughout the forecast period. Cod liver oil is mostly produced in European countries with significant coastlines, such as Norway, Iceland, the United Kingdom, and others. Because of rising health concerns amongst the population, the United States has the highest consumption of cod liver oil.
Cod liver oil is becoming more popular in the worldwide fish oil industry due to its numerous health benefits. Investors in cod liver oil are expected to see bigger profits.
Major Players
The major players in the omega protein corporation are BASF SE, Nordic Naturals Inc., Croda International Plc, OLVEA Fish Oils, GC Rieber, Carlson Laboratories Inc., and Blueline Foods India Pvt Ltd.
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